Good bill hunting
Save up to thousands of dollars each year with this simple trick
Hello Financial Healers,
I apologize for missing an email last Thursday. I was busy traveling. We’re back on schedule this week.
Today, I want to share a secret, one that can save you thousands of dollars. Let’s examine it now.
Use annual spending reports
The US Bureau of Labor Statistics documents the average annual household spending in America.
Compare this information with your own to see if you exceed the norm. If so, tighten your spending habits to reach a healthier number. Here’s the form: 👇
Note how major categories like food, housing, transportation, clothing, and education are included. Go through each one and examine your numbers.
For example, one of my clients, who lives in Southern California, spends $285 above the US average on monthly rent. They plan to move to a cheaper city, which will save them, at minimum, $3,420 each year.
See how easy that was?
Not everyone can move, but I guarantee there’s something you can cut back on. Maybe it’s transportation, clothing, or entertainment? Either way, get creative. Steward your money with intention. Funnel more cash into savings, and grow your net worth.
Join us for My Money Time
Dive deeper into this exercise in Stephen’s live coaching session (Wed. at 3:30 PM [CA time]). If you can’t make live, consider upgrading to watch the recording later.
God bless your Prosperous Soul,
Stephen K. De Silva
About the author: Stephen K. De Silva is an author, speaker, and financial coach. From 1995 until 2017, he served as the CFO of Bethel Church, and a member of the senior leadership team. Stephen’s unique experience, training, and gifting make him a pioneer in the subject of money. You can reach Stephen at hello@stephenkdesilva.com